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Below is an Interesting article I found, which says that.....Do not
4 ~# L: X' |! I* p# M( w2 [expect much from Crude Oil producers and future is not with the
" n) V7 [ h X; C8 U. {companies producing Jet fuels but Biofuels. Also no wonder if some of 9 o! ^1 i9 N$ i9 _- r
these oil producer will go bankrupt or out of the business even if 1 o5 }3 H3 S; N# f& n
crude prices improves. This implies also to good names such as Shell,
7 X+ g+ Y1 x" _$ a' V+ sEXXON, BG, BP, Cheveron ....xyz.. oils ' _5 S/ d2 ]6 f( [
8 f1 l9 N$ g# L$ ~5 ]- ]Recently OPEC reduced crude oil production twice over just a few 2 G" a1 V" b4 ^) y& y1 s
months. There are three wars going on in Gaza, Iraq and Afghandistan.
4 a, E" Y% b; B& j6 ^$ A) n8 _# dA year ago these things would have spiked the price of crude oil by at
* z6 e1 f- f( L+ k$ [ ~5 ^0 Fleast $50.00 per barrel. Today, oil price declined by a record amount. + u8 P; b. m- Y6 b- ?+ l
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7 v5 ?$ e h: t! B: ?0 @( _% VThere are several reasons the price of oil is decreasing in the face + m$ u4 R+ w: L$ |6 F. b+ w4 A8 w) [
of so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and & m9 }* k% t! g/ ?8 y, Z2 r
in the ocean near Brazil. Each of these oil fields has more oil than 7 Y {3 f# [: ?6 v( a
Arabia. 6 E' w6 _6 N% Q4 E: T! Z
8 Q" w- j2 q# V% \
& ~; ~1 L: r1 H1 E+ U. N% S, J$ a% l2. New natural gas has been found in Pennsylvania and West Virginia.
( X& P2 j3 R8 g$ l9 XThis is the largest find in North America. 2 f' T0 C; }1 R% \
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$ R' D! i! p8 `' v* s5 {3 L6 p3. New methods of injecting CO2 and surfactants into oil wells is $ |6 O& H; S- D7 i6 X" e" b
being used to double their output.
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4. Production of bio-fuels is beginning to reach critical mass. Bio
1 H" K% u, f9 a4 ~fuel is being produced from many plants and algae. The production - ^$ T/ d; x0 v9 Z
potential per acre in some cases is astounding. Many countries are
t7 U# B) }$ Jracing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants
! c5 P6 X1 H0 Y4 jare now selling their used oil to bio-diesel producers. Every pork, 6 Z) c" x L+ H& ]
cattle, turkey and chicken processing plant will soon sell their fat ( f! S; m* F. }+ q
to bio-diesel producers. One pork processing plant in Oklahoma is 5 F. W- _0 p& N n
producing 30,000 gallons of bio-diesel per day from pork fat. 3 V* i+ }7 P' Z% S
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6. There are 99 nuclear reactors in various stages of planning and , x& D* Q" m6 e% W7 G
construction around the world at this time. Several hundred more are
' c" T+ N( O8 K% ?) F6 @expected to be built in the future. Much of the energy they produce
$ r4 r( b0 J8 \; Zwill replace oil. 5 V6 a3 S2 G( E& C" h
) k5 i1 y, `* A3 e1 r! D( J b/ h, ?' q: t8 ~, n/ B8 l
7. Every company in any form of transportaion business is replacing 6 }: {( d0 B' x2 M
older equipment such as trucks, airplanes, train engines, ships, etc. + Z$ F' m0 ]4 N, Z
with new more fuel efficient equipment. Airlines and railway companies 7 b7 V+ q1 f# X* f" ~
are experiencing 20% to 25% better fuel econony with the new
, o0 A; @4 J0 a; ]1 ~9 cequipment. 6 V( |. p$ B! j% Q3 M* H
4 y% G! M7 s. @* ^! R" Z
% r* M' |9 a* ^& @; TAirlines are flying airplanes with bio-fuel. They are finding the bio-
" ~1 P N" W- I% o1 d- i! xfuel is cleaner and performs better than jet fuel. ( m4 X8 ]2 V7 L8 |
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8. Cities and counties throughout the US are selling the rights to : B. B5 u- R8 T; x1 {7 R
capture methane gas from landfills. This is a huge source of gas
: F4 p! d+ F1 e& N% A- \5 Gavailable at very little cost or risk. The gas is displacing crude 2 O w9 e! e7 S+ q/ ~2 I. h
oil.
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$ v+ M4 r9 O" }7 z& o' O; k' r9. Coal is being transformed into a clean burning liquid fuel. The CO2
) h. U% |. T% L" G/ E, Zproduced as a byproduct is sold to oil companies for injection into
+ P( e; ~* w" I7 z$ w9 Hoil wells.
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10. Solar, wind and ocean energy is displacing oil as an energy ) q0 [& u2 v4 S8 e
source. Three new wind turbines are being erected every day in the US. % T) s; ^& R, g7 ^
6 N: h, _: n" H9 l
' J! Q$ w1 h5 h; q; J. k* {) PEach of the above by itself will not make a large difference in the
: r7 W% J+ {- y9 R4 b5 T; ~price of crude oil but the sum of all of them together is world
' A. W/ y w6 ^& u0 [$ Nchanging. The important thing is that OPEC no longer has the ability
' o' H& w! l3 d, Sto control oil prices. . w% f, r1 d7 K
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1 B* \2 C/ E6 x' _) n. T+ mWith the above scenario, I still believe that there are under
( l9 a1 g/ |" r+ d4 P* V* Dperformed OIL companies and probably they are yet to get the justified
9 f7 `5 s3 n+ I* ~ n1 \value .....
r' W4 e$ H% @2 I% `: m yIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... 5 v; M4 W" e) S- h; e& ~" }
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN
6 O6 Z) K0 u5 P0 G# r2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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